Comments: The loss of the Burberry license continued to drag down results, as sales fell more than 10% last year. Excluding the Burberry results, sales increased 15.3%.

But forget what might have been with Burberry; in a presentation to analysts, Inter Parfums noted that between 2009 and 2014, its ongoing sales increased at a CAGR of 23%, compared to the fragrance industry’s 3%. Furthermore, Inter Parfums puts the global fine fragrance market at $45 billion, with Europe accounting for 43% of sales, followed by the Americas (33%) and Asia Pacific (24%). In contrast, Inter Parfums’ sales by region in 2014 looked like this: Europe (38%), Americas (37%) and Asia-Pacific (25%).

Jean Madar, chairman and CEO of Inter Parfums, Inc., noted that increasingly strong currency headwinds toward the end of the year, a steady stream of product launches, the contribution of new brands, and the staying power of several best sellers provided a lift to ongoing brand sales in all regions. He noted, too, that new product introductions such as Oscar de La Renta Extraordinary and Dunhill Icon will provide a lift to results this year. And yet, in 2015, the company expects sales to fall to $470 million. For the three months ended March 31, 2015, sales fell 10% to $109 million, but net income improved 12.5% $10.0 million.

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